For most of us, buying a home is the largest investment we'll make in our lives, so take the time to speak to different lenders and see what offers are available to you. 

Getting several competing quotes and getting the best offer can save you thousands over the course of your loan.

Alaska: Massive State, Concentrated Population

Most of Alaska's population is concentrated in South Central Alaska, in the area surrounding Anchorage. Many home buyer and refinance resources are also located in this area. Community organizations like Anchorage Neighborhood Housing Services support Anchorage home loan programs with as low as two percent down payments.

Fairbanks, located in the center of Alaska, enjoys a housing advocate in the form of Fairbanks Neighborhood Housing Services, a non-profit group that partners with local lenders.

Alaska Mortgages Influenced by Government Action

In Alaska, an FHA mortgage sponsored by the Federal Housing Administration is the norm. Alaska FHA mortgages provide residents with low down payments and low interest rates.

Alaska politicians are famous for reminding the powers-that-be in Washington, D.C. not to forget about Alaska. The Recovery Act of 2009, for instance, resulted in $54.2 million in stimulus funds going to Alaska and a raise in the Alaska FHA home loan limits.

If you own or are thinking about owning a home in Alaska, stay informed on political changes that may directly impact your ability to obtain an Alaska home loan.

Alaska Mortgage Calculators

Use our pre-qualification calculator to get ahead of the game, our affordability calculator to know what you can afford, and our closing fees calculator to figure your true home buying or refinance cost.

Don't forget about the interest only calculator, which can help you plan out potential mortgage payments.

Resources:

• U.S. Department of Housing and Urban Development (HUD): A service to all homeowners.
• Alaska HUD: HUD is active in Alaska.
• Consumer Credit Counseling Service of Alaska: Learn about money management techniques and housing finance.
• IRS First Time Homebuyer Credit: First time homebuyers may qualify for up to $8,000 as a refundable federal income tax credit.
• Making Home Affordable: The Obama Administration's plan to help homeowners refinance.
• Anchorage Neighborhood Housing Services: Information on grants to homeowners and matters of affordable housing.
• Fairbanks Neighborhood Housing Services: Learn about the homebuying process.
• Alaska Community Development Corporation: A major force in shaping Alaska home finance trends.
• Federal Housing Administration: Read up on Alaska FHA home loan guidelines.
• Alaska Prepared: Owning an Alaska home means being prepared to deal with inclement weather and possible emergency situations.